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1st battleground of the day!
Giddy up!
Nah, but after this holiday weekend’s noodling, I’m going to take a little holiday from the board and instead, be on the lookout for SEC-related updates.
Good luck to all! And Akika? Stay sexy!
I’m not worried about the money. I just want to know more info about the buyer(s) of the 180M shares.
I'm just telling you what the filings say.
They have 46 full-time employees around the world. This thing isn't going bankrupt. And let's also be clear: You keep saying share authorization increase of billionS. It's an additional 500 million for a total of 1 billion.
Thereafter, they may or may not do a reverse split. I personally don't believe the RS will happen.
Who is they? Are you suggesting DCTH and by extension their executive team, are selling DCTH shares into their press releases? Would this be for their own pecuniary gain?
Did DCTH not get $10M recently and another $4.5M with this private placement specifically to advance the FOCUS trial?
I am a simple man so I admit up front I could be wrong, but a fairly large percentage of your comments involve moving the goal post to fit your narrative. So let's flesh this out: at present, DCTH has full funding and last month negotiated with the FDA to lower the threshold requirements for the Phase 3 FOCUS trial, which had absolutely NOTHING to do with lack of funding.
The modification agreement revises the FOCUS trial’s eligibility criteria to permit a greater extent of extra-hepatic disease by removing the size restriction, number and location of extra-hepatic lesions, in conjunction with a treatment plan for the extra-hepatic metastases.
Let me ask you this: do you believe CHEMSAT 2.O treatments in Europe will accelerate approval of CHEMSAT 2.0 by the FDA? I think DCTH could receive the green light as early as Q4 2018, and almost overnight if Congress passes Right to Try legislation. Approved in the Senate, it's with the House now, and Trump is ready to sign.
Jennifer K. Simpson, Ph.D., President and CEO of Delcath Systems, said,
“this is a meaningful milestone for Delcath, one that speaks to the belief physicians in Europe have developed in our product and this therapy for certain types of liver cancers. Our commercialization efforts in Europe have established a considerable body of published and presented research data that demonstrates the safety and efficacy of this therapy in appropriate patients...We continue to leverage this experience to validate the safety and efficacy of the melphalan/Hepatic Delivery System (CHEMOSAT) in our clinical trials.”
http://delcath.com/investors-news/
When I take the totality news and publically available information about DCTH, alongside the company's erratic behavior of late (see my last post), I think DCTH is bluffing about a reverse split. Period. Full stop.
Too bad no one pays attention to my rants because I would urge DCTH's competitors in the industry to move now before having to face a very real near-threat in DCTH's CHEMSAT 2.0. And perhaps a hostile takeover attempt would flesh out just what's really going on behind the scenes.
Hopefully, shareholders will learn this week who the acquirer(s) are of the 180M shares. Though I am not holding my breath...
It is a riddle, wrapped in a mystery, inside an enigma
Or relies more heavily on the success, in terms of both safety and efficacy, of the 500 CHEMSAT 2.0 treatments completed over the past 3 years in Europe.
The gold standard? BWAHAHA. Gold standard if you want to hear about DCTH going to $370 (in Fantasyland). Sam, and sidekick Turntheship, like to jump through wormholes to provide approval dates well into the next century.
Turntheship, perhaps you could post a bit about how the FDA relaxed the protocol regime for Phase 3:
Delcath Announces Special Protocol Agreement Modification With FDA
NEW YORK, Jan. 10, 2018 (GLOBE NEWSWIRE) -- Delcath Systems, Inc.
(OTCQB:DCTH), an interventional oncology company focused on the treatment of primary and metastatic liver cancers, announces that it has concluded a modification agreement with the U.S. Food and Drug Administration (FDA) for its Phase 3 clinical trial of Melphalan Hydrochloride for Injection for use with the Delcath Hepatic Delivery System (Melphalan/HDS) to treat patients with hepatic dominant ocular melanoma (The FOCUS Trial). The modification agreement revises the FOCUS trial’s eligibility criteria to permit a greater extent of extra-hepatic disease by removing the size restriction, number and location of extra-hepatic lesions, in conjunction with a treatment plan for the extra-hepatic metastases.
Hey I don’t try to starp shoot theories, I figure if we have enough of them, one will stick. Though hopefully not this one. I’d personally like a happy ending, just don’t google SPA in the same search. Lol
The Geddy Lee gang is no joke!
Quadruple!!!!
Hahahaha. See, sometimes you have to dumb it down for KoKo over here.
Thanks!
Thanks for this insightful analysis.
If nothing else, this has been one hell of a roller coaster.
We’re all waiting in the partner. Hopefully this week.
Because retail abandoned them last year we’re going to get hammered with RS and we lose it all?
The theory is compelling, but they do have a fiduciary duty to the shareholders, not a duty to let themselves sleep better at night for corn-holing shareholders because they were stood up.
What exactly are you calling?
Ha!
With respect to the ATNX angle, I assume any deal consummated with DCTH would be bought and paid for with a ratio of ATNX stock for DCTH stock. The only issue I see with this scenario is that because the stock is trading so low (and has been for several months) that ATNX (or some other potential acquirer) may not offer a premium ratio I believe DCTH is worth. But sitting at $.018, I don't know how much luxury we have.
With respect to the 14A filing, I am voting NO for two reasons: 1) DCTH will not self-immolate by going into BK—Jenny will find a way to get what she wants. She did last year and she’ll figure it out again if necessary; and 2) to encourage the spectre of a hostile takeover. Current shareholders have endured a series of punishing hits to the PPS over the past year and at this point have every reason and right to encourage price appreciation regardless of the manner by which it happens.
As you may know, I've been throwing out terms like "DCTH throwing smoke" and "The Chewbacca Defense" because, well, they don’t seem to make much sense—at least to me:
1) DCTH going dark on social media beginning last year;
2) Providing shareholders very little in the way of PRs-particularly as the PPS cratered from $10.50 to $.018 post-RS;
3) The sloppy SEC filings related to the private offering, including what I think might be a Guinness Book of World Record for the shortest SEC filing in history (a single word); and
4) Most importantly, the recent SEC filing requesting shareholder vote to increase the number of authorized shares AND a reverse split. The timing is peculiar, as is one of the reasons: The Board strongly believes that the increase in the number of authorized shares of common stock is necessary to provide us with sufficient authorized shares so that the holders of the Series D warrants issued in conjunction with our February 9, 2018 public offering may exercise their warrants. Shouldn’t this have already been accounted for prior to the private offering?
To me, DCTH is either a hot mess with shaky leadership at the helm (I see some of you already nodding your head) or they are pulling a play from President Lincoln’s unambiguous foreign policy during the civil war: The United States would declare war on any country that recognized the Confederate States of America. This included then-current world powers England and France. Did the U.S. have the ability to successfully prosecute two or more wars at the same time? Of course not, but it did have the intended effect. The cost of provoking a war with the United States kept global players on the sidelines.
Put simply, the juice wasn’t worth the squeeze.
I think that might very well be the approach DCTH is taking with the most recent filing. They may not be expecting a hostile takeover, but are taking sufficient steps to prevent one, which means it’s within the realm of possibility. Where the United States had vast natural resources, DCTH has an effective and successful delivery system on the verge of FDA approval in the United States. CHEMSAT, according to the former DCTH CEO, would be re-tasked after FDA approval to combat other forms of nefarious cancers of the liver and colon, opening DCTH to annual $2.5-billion dollar market.
In my opinion, this whole exercise could very well be a bluff. That’s my $.02 for today. And if DCTH goes lower, I’ll be buying on the hunch.
Thanks for the feedback. I believe the agreement with DCTH excluded ROTH as a buyer.
That said, glad to see someone else thinks this whole thing is screwy. Uncertainty is the hobgoblin of volatility.
I think we’re both asking some
good questions. I am trying to stay positive until we get more info. At the same time, you paint an equally plausible scenario.
Keep it coming and have a good night.
I am punching out to watch Coco!
I believe your 90 day window is 95% off target.
So your saying I’ve got a chance?
Hahaha. I wouldn’t say parallel universe as much as dueling magic 8 balls.
But yes, you are spot on. No one has a clue, including yours truly.
We’ll find out soon enough this week!!! (Maybe)
You don’t know who it is, but we’ll find out soon enough.
And I have no doubt if it is HB, you will remind me over and over and over again.
But let’s play your HB game: what do they stand to gain with a reverse split? They can’t sell until mid April and by Sam’s numbers (which we know you enthusiastically support), PPS will be pulverized by mid April to what, $.005? So other than receiving a 75% haircut over a two month period on their initial investment (from $.02 to $.005), what is the incentive to consummate the deal?
I don’t think they are immoral. Speak for yourself.
They are saving lives.
It’s not that I don’t trust them, I just think they are in possession of information that we are not. No institutional investor in their right mind would stand for a RS notice 3 days after their initial purchase.
DCTH isn’t going to bring that heat on itself, IMO.
I think DCTH is throwing up a smoke screen, in a good way. IMO.
If that be the case, clearly buyer or buyers knew of the AS and RS filing and still purchased anyway, imo. Why is that?
I am voting no on the AS and possible RS. Id love it if ATNX was the buyer of the 180M, but I’d also be down for a hostile takeover attempt.
Set phasers to stun, baby!
I’m actually curious, how do things end with Greek Billionaires?
Cue Vinzinni: “Inconsthievable!”
With respect to the private placement, the threshold reporting requirement under Rule 13, at 4.98%, is just over 21 million shares.
The likelihood of more than 8.5 buyers under 4.98%, while possible, is unlikely given the shares were snatched up in less than a day, IMO.
Also unlikely is the possibility of 8.5 buyers (at 21M+) voting for the reverse split just three days after the placement unless they are privy to information you and I are not.
I look forward to filings this week. If there are none, I look forward to voting no. If bankruptcy be the case, so be it.
I don’t mind the behind the scene subterfuge, but it should not come at our expense.
It all comes down to who owns those 180M shares.
A few weeks back IR indicated the 10K would be out w/in 75 days of 12/31/2017. Was curious if something has changed or I missed some language in one of the recent filings.
Risk-reward makes me queasy? This statement is more absurd than your $370 PPS prediction.
In fact, that statement is comedy if applied to all shareholders. The only reason we’re here is for the risk-reward.
DCTH is your two decade mistress and it shows, my friend. I’m here to kill it. Period. Full stop.
DCTH at sub penny is laughable.
Wow. Talk about a K-Mart blue light special!
You are giving DCTH PPS a -72%+ haircut based on? Good grief.
At $.009, DCTH will have a market cap of $3.825M. Thanks for the laugh.
Hahahaha. Well played. Enjoy!
After reading the Pre Form 14A, and at the risk of sounding like Billy Ray Valentine, how is this different from bouncing a check? Why did DCTH write a check knowing they could not honor it in advance? And why would someone accept said check knowing DCTH didn't have enough in the piggy bank?
The Board strongly believes that the increase in the number of authorized shares of common stock is necessary to provide us with sufficient authorized shares so that the holders of the Series D warrants issued in conjunction with our February 9, 2018 public offering may exercise their warrants.
What would happen if they could not exercise their warrants?
Ugh, I cant get Cherry Pie out of my head.
Then someone just gave them $4.5M last week? Where do I find people like that? (and if you are one of them, will you adopt me, please?) LOL.
Leo, where does it say the Q4 (or 10K) filing will be delayed? I still have on track they are due to report 10K no later than 75 days after CY2017 is wrapped.
That puts us at March 15, 2018. Is there any indication it will be later?
My apologies if this has already been discussed, I've been out of touch with the filings for 2-3 weeks and just now taking a deeper dive.
No clue who that might be.
Forgive the noob question, but Why file if you own only one share? Or asked another way, why would these cats buy just one share?
2018-02-05 13F-HR QCI ASSET MANAGEMENT INC/NY
2018-01-16 13F-HR Gemmer Asset Management LLC
Thanks for the guidance sir!